5G Wireless (FGWI.OB) filed form 10-QSB today, bringing the company current and having the ‘E’ removed from their stock. The market reacted in bullish style, with the stock advancing 20% today.
Revenues from the equipment sales and service and WISP operations were $291,563 for the three months ended June 30, 2007 compared to $89,302 for the three months ended June 30, 2006, an increase of $202,261 or approximately 226%. Revenue from the equipment sales and service and WISP operations was $389,297 for the six months ended June 30, 2007 compared to $298,402 for the six months ended June 30, 2006, an increase of $90,895 or approximately 30%.
The increase in revenue was primarily attributable to a significant growth in WISP locations during this quarter as well as ongoing equipment sales from the university campus market place. The Company expects the current sales personnel to increase sales as more university campuses look to upgrade their network infrastructure. Further, the WISP operation is expected to continue revenue growth over the next twelve months. With over 5,000 rooms currently being serviced nationwide and contracts in place for an additional 5,000 rooms, the company see’s the WISP division as a very predictable revenue model and as more travelers bring their laptops and PDAs with them on trips, this per room rate is expected to rise significantly from the $10- $12 originally projected.
5G Wireless Communications, Inc. is a designer, developer & manufacturer of RF equipment deploying state-of-the-art commercial grade Wi-Fi utilizing proven cellular style architecture. Their products provide solutions for hospitality resorts; universities and college campuses; and enable service providers, municipalities, and public safety agencies a cost-effective broadband infrastructure so that voice over IP (VoIP), video surveillance, and other wireless applications can be rapidly deployed.
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